Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Periodically, customers of a financial services company are asked to evaluate the company's financial consultants and services. Higher ratings on the client satisfaction survey
Periodically, customers of a financial services company are asked to evaluate the company's financial consultants and services. Higher ratings on the client satisfaction survey indicate better service, with 7 the maximum service rating. Independent samples of service ratings for two financial consultants are summarized here. Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. Use a = 0.05 and test to see whether the consultant with more experience has the higher population mean service rating. Consultant A Consultant B n = 16 n = 10 x = 6.84 X2 = 6.28 S = 0.64 $2 = 0.75 (a) State the null and alternative hypotheses. 4 Ho H1-H2>0 Ha: H1-H20 Ha: H1 H20 O Ho H-H20 O Ho H1-H20 Ho H-H20 (b) Compute the value of the test statistic. (Round your answer to three decimal places.) 1.651 (c) What is the p-value? (Round your answer to four decimal places.) p-value = 0.0655 x (d) What is your conclusion?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started